When considering Long Term Care Insurance and Health Savings Accounts, be sure to grab the latest copy of Form 502 from the IRS. That’s the guide that gives you up-to-date figures for how much you can deduct from your HSA for medical expenses. More on LTC and tax stuff found here.
As an example, an individual age 61-70 could deduct in 2012 a total of $3,500 per person using an HSA.
This is fairly generous based on what premiums for these age limits typically run.
Of the stipulations, your LTC policy must be tax qualified and not deducted otherwise, such as through a tax-free distribution from a qualified retirement plan. Other than that, using an HSA to pay for Long Term Care Insurance can be a smart move, and is something you should discuss with your CPA.
We will provide you a comprehensive comparison of the largest and most reputable Long Term Care Insurance providers in the business. All the product we offer will be IRS tax-qualifies Long Term Care Insurance policies. Our unique model allows you to compare all of the major players in the business without having to set a sales appointment and suffer through the hard sell.
LTC Tree, the smart and easy way to shop for Long Term Care Insurance.
Watch the video below to see an example of what info you'll get.
Reviews of each company's financial stability ratings, claims experience, and size.
A side-by-side comparison of each company's policy features. We cover the similarities and the differences.
Price comparisons customized to suit your specific needs from top carriers such as Genworth, Transamerica, John Hancock, New York Life, National Guardian Life, Mutual of Omaha, and more.
Carriers quoted will depend on your state. Completing this form does not bind you to any insurance policy.
